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Negotiations on KAMAZ, MAZ merger proceed with difficulty

September 26, 2012, 12:15 UTC+3
The head of Rostekhnologii said that in accordance with the conducted audit KAMAZ is estimated at slightly more than 2 billion dollars while MAZ – at a bit more than 1.6 billion
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MOSCOW, September 26 (Itar-Tass) — Negotiations of Russia and Belarus on the merger of KAMAZ and MAZ (truck plants) proceed with difficulties,” Sergei Chemezov, the head of Rostekhnologii State Corporation, that is the main shareholder of Russia’s KAMAZ, said on Wednesday.

“Negotiations are held so far, as we have not reached a final agreement with Belarus as of yet,” Chemezov said. In reply to the query whether a joint holding will be set up before the end of the year, he said “I would hope so”.

“The point is that we have made our new evaluation, and Belarus has also made a new evaluation,” Chemezov continued. “Two years have passed, that is why we have made a revaluation. Now we must get down to the negotiating table and agree, whether the Belarusian side accepts it,” he added.

The head of Rostekhnologii said that in accordance with the conducted audit KAMAZ is estimated “at slightly more than two billion dollars” while MAZ – “at a bit more than 1.6 billion dollars”.

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